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Q3. Demand shocks are exogenous events that cause (1) the aggregate demand curve. (fill the blank with choices below) Demand shocksthat are negative are eventsthat induce planned spending at any given inflation rate to (2) , thus pushing the AD curve (3) Compared to negative demand shocks, positive demand shocks have (4) effect on aggregate demand. (1) movement along shifts in (2) rise fall (3) leftward rightward (4) the opposite a similar See the table below. The top portion of the following table lists several demand shocks along with several exogenous events that do not affect the position of the aggregate demand curve. A response box is attached to each event. The table's bottom portion contains a labeling key. For a positive demand shock, use the label P; similarly, for a negative demand shock, use the label N. Label any exogenous event that does not impact AD with an X. (Note: Each letter is used three times.) The Federal Reserve autonomously tightens monetary policy. The government adopts ill-advised regulations that diminish the economy's overall efficiency. The government imposes much higher taxes on households. Atemporary disruption in oil production occurs, pushing oil prices higher. Consumer optimism surges as the media reports encouraging news about the economy. The nation's labor unions push forcefully for higher wages and expanded benefits. Foreign economies rebound, producing a substantial rise in net exports. Sudden optimism within the business community induces a bigjump in planned business expenditures. Peace breaks out, enabling the government to substantially curtail defense expenditures. Labeling Key: X This exogenous event does not constitute a demand shock. P This is a positive demand shock. N This is a negative demand shock